Research
HSBC Boosts Petro Rabigh PT, Keeps Buy Rating
HSBC on Wednesday increased the price target for Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to 20 Saudi riyals from 16 riyals, while maintaining its buy rating.
SASE:2380
SASE:2380
13 stories mentioning SASE:2380Updated 11d ago
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Equities
Petro Rabigh Names New CEO/President
Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, named Hassan Bin Hamad Al Yami as its new chief executive officer and president, effective Sept. 1.Al Yami will succeed Othman Bin Ali Al-Ghamdi, who resigned for personal reasons, effective Aug. 31, the oil refining and petrochemical company said Monday.Al-Ghamdi will remain with the company as a board member.
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Equities
AlphaMena Upgrades Petro Rabigh to Add, Boosts PT
AlphaMena on Wednesday raised oil refining and petrochemical company Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to add from reduce and increased its price target to 21 Saudi riyals from 15.10 riyals.
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Equities
Petro Rabigh Swings to H1 Profit; Revenue Surges
Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Monday that it swung to an attributable profit in the first half, while revenue grew year over year.Net profit attributable to shareholders of the issuer for the six months ended June 30 was 4.13 billion Saudi riyals, compared with a loss of 2.06 billion riyals earlier. EPS moved to 2.47 riyals from a loss per share of 1.23 riyals.The Saudi Arabia-listed oil refining and petrochemical company's revenue was 35.22 billion riyals, compared with 15.16 billion riyals a year ago.
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Equities
AlphaMena Downgrades Petro Rabigh to Reduce, Lifts PT
AlphaMena on Tuesday downgraded oil refining and petrochemical company Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to reduce from add and raised its price target to 15.40 Saudi riyals from 15.00 riyals.
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Equities
AlphaMena Upgrades Petro Rabigh to Add Rating, Trims PT
AlphaMena on Wednesday raised oil refining and petrochemical company Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to add from reduce, while decreasing its price target to 15.30 Saudi riyals from 15.70 riyals.
SASE:2380
Equities
AlphaMena Lowers Petro Rabigh PT, Keeps at Reduce
AlphaMena on Thursday lowered its price target for Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to 15.70 Saudi riyals from 16.30 riyals, while maintaining a reduce rating.
SASE:2380
Equities
AlphaMena Downgrades Petro Rabigh to Reduce Rating, Lifts PT
AlphaMena on Monday downgraded Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to reduce from add, while increasing its price target to 16.30 Saudi riyals from 16 riyals.
SASE:2380
Research
HSBC Boosts Petro Rabigh PT, Affirms Buy Rating
HSBC on Tuesday raised its price target for oil refining and petrochemical group Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to 16 Saudi riyals from 13 riyals, while keeping its buy rating.
SASE:2380
Research
AlphaMena Upgrades Petro Rabigh to Add, Boosts PT
AlphaMena on Thursday upgraded oil refining and petrochemical company Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to add from sell and increased its price target to 16 Saudi riyals from 9.22 riyals.
SASE:2380
Asia Markets
Tadawul Shares Extend Winning Streak as Fed Week Starts
Saudi Exchange-traded shares closed higher as investors turned their attention to the latest earnings by Saudi Arabian companies and the US Federal Reserve's highly anticipated interest rate decision on Wednesday.At the close of Monday trading, the Tadawul All Share Index closed in the green at 0.42%. Both Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Saudi Kayan Petrochemical (SASE:2350) led the charge at 9.96% at closing.The Fed is widely expected to keep the interest rates steady at its 3.50% to 3.75% range, with market watchers expecting to see clues for the group's next rate and policy moves."The Federal Open Market Committee is expected to keep policy steady next week, so our focus will be on any sign that the committee's assessment of the balance of risks has shifted since the mid-March meeting. There won't be updated economic projections to sort through, so any evidence of a change in FOMC members' thinking will come from the policy statement and Fed Chair Jerome Powell's press conference after the meeting," Oxford Economics said in a note.In other news, Reuters reported, citing sources from Pakistan, that Iran set out a new proposal for its peace talks with the US. The proposal covered guarantees that the US would not start the conflict again, the end of the blockade, among other things.Back at home, Saudia Dairy and Foodstuff (SASE:2270), d/b/a Sadafco, and Saudi Tadawul Group (SASE:1111) logged lower financial results for the first quarter of 2026. Arabian Cement Co. (SASE:3010), meanwhile, posted a 153.81% surge in its net profit and a 5.08% rise in sales.Sadafco and Saudi Tadawul Group closed 2.12% and 3.68% lower, while Arabian Cement shares ticked up 3.57%.
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Asia Markets
Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled
The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.
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Equities
Petro Rabigh Emerges From Loss in Q1; Revenue Grows
Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Sunday it swung back to profit in the first quarter of 2026, while revenue increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 1.47 billion Saudi riyals, compared with the attributable loss of 691 million riyals earlier. EPS moved to 0.88 riyal from a loss per share of 0.41 riyal.The Tadawul-listed oil refining and petrochemical company's revenue was 14.85 billion riyals, compared with 11.21 billion riyals a year ago.
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